Trucking: Truckload spot market in July remains strong, says TransCore

Spot market truckload volumes in July were strong, representing the seventh straight month of record same month spot market freight availability and were up 22 percent on an annual basis, according to new data from TransCore.

By ·

Spot market truckload volumes in July were strong, representing the seventh straight month of record same month spot market freight availability and were up 22 percent on an annual basis, according to new data from TransCore.

This strong performance followed June, which saw the second highest monthly volumes in 2011, next to March, and are the two highest volumes in the 15 years TransCore has been tracking this data.

July volume was down 24 percent compared to June, and TransCore officials said that over the previous ten years July spot market load volumes have declined an average 19 percent on a sequential basis.

Shippers and carriers alike have told LM in recent weeks that the spot market is still attracting top dollar rates, as carriers are reluctant to add capacity at a time when the economic recovery appears tenuous, retail sales are flat, unemployment is high, and gas prices are about a dollar higher than they were a year ago at this time.

“Carriers today are not interested in adding capacity, because rates today are about equal to what they were in 2006,” said Lana Batts, a partner at Transport Capital Partners, in a recent interview. “The price of a truck has gone up from $80,000 to $120,000 and fuel is up, too. Everything is more expensive, and the industry is still charging 2006 rates. It is not sustainable. Trucking is not as easy of a business to get into as it was before.”

TransCore also reported that truckload freight rates were mixed on a seasonal basis in July for all equipment types, with the national average rate—excluding fuel surcharges— down 3.6 percent in July for dry vans compared to June and flat compared to July 2010. The firm said that rates for reefer vans were down 9.4 percent in July compared to June and up 0.6 percent annually. Flatbed rates were flat compared to June and up 11 percent annually.


About the Author

Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Article Topics

TransCore · Trucking · All Topics
Latest Whitepaper
Face security threats head-on. Protect data beyond perimeter.
Traditional Data Loss Protection (DLP) solutions present a number of serious shortcomings and challenges for companies deploying them, creating a clear gap in the market.
Download Today!
From the January 2018 Logistics Management Magazine Issue
Industry experts agree that costs across all sectors worldwide will continue to rise in 2018, and the most successful shippers will be those that are able to mitigate their impact on profitability. And, the right technology will play an increasingly vital role in driving efficiencies across the global logistics network.
The Future of Retail Distribution
Navigating the Reverse Supply Chain for Connected Devices
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Securing IoT data across the connected supply chain
Learn why a holistic approach to IAM is the most effective way to govern access to your systems and information requested by your partners, vendors, customers, and connected devices.
Register Today!
EDITORS' PICKS
State of Global Logistics: Delivering above and beyond
Industry experts agree that costs across all sectors worldwide will continue to rise in 2018, and...
2018 Rate Outlook: Economic Expansion, Pushing Rates Skyward
Trade and transport analysts see rates rising across all modes in accordance with continued...

Building the NextGen Supply Chain: Keeping pace with the digital economy
Peerless Media’s 2017 Virtual Summit shows how creating a data-rich ecosystem can eliminate...
2017 NASSTRAC Shipper of the Year: Mallinckrodt; Mastering and managing complexity
An inside look at how a large pharmaceutical firm transformed its vendor and supplier relationships...